PennyMac Mortgage Investment Trust (NYSE:PMT) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $15.50 target price on the real estate investment trust’s stock.

Separately, Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT opened at $12.56 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The business has a fifty day moving average of $13.02 and a 200-day moving average of $13.59. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 9.23 and a beta of 1.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter last year, the company posted $0.51 earnings per share. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 1.26 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be given a $0.40 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 12.74%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

A number of large investors have recently bought and sold shares of PMT. Exchange Traded Concepts LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 5.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 73,992 shares of the real estate investment trust’s stock worth $932,000 after buying an additional 3,892 shares during the last quarter. Inspire Investing LLC increased its stake in PennyMac Mortgage Investment Trust by 10.8% during the fourth quarter. Inspire Investing LLC now owns 31,820 shares of the real estate investment trust’s stock worth $401,000 after acquiring an additional 3,096 shares during the last quarter. Versant Capital Management Inc increased its stake in PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 822 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PennyMac Mortgage Investment Trust by 1.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust’s stock worth $17,386,000 after purchasing an additional 18,122 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 18.2% in the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after purchasing an additional 77,955 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.